AMDL vs. QCML

Last updated Jun 3, 2026

AMDL (GraniteShares 2x Long AMD Daily ETF) and QCML (GraniteShares 2x Long QCOM Daily ETF) are both Leveraged Equities funds from GraniteShares. AMDL is actively managed, while QCML is passively managed. Over the past year, AMDL returned 1145.71% vs 111.12% for QCML. At a 0.47 correlation, their price movements are largely independent. AMDL charges 1.15%/yr vs 1.50%/yr for QCML.

Performance

AMDL vs. QCML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AMD Daily ETF (AMDL) and GraniteShares 2x Long QCOM Daily ETF (QCML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDL achieves a 357.43% return, which is significantly higher than QCML's 67.59% return.

AMDL

• 1D: 4.30%
• 1M: 94.72%
• YTD: 357.43%
• 6M: 344.84%
• 1Y: 1,145.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QCML

• 1D: 10.19%
• 1M: 68.30%
• YTD: 67.59%
• 6M: 68.62%
• 1Y: 111.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMDL vs. QCML - Yearly Performance Comparison

	2026 (YTD)	2025
AMDL GraniteShares 2x Long AMD Daily ETF	357.43%	145.66%
QCML GraniteShares 2x Long QCOM Daily ETF	67.59%	-16.71%

Correlation

The correlation between AMDL and QCML is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.47

AMDL vs. QCML - Sectors Allocation Comparison

Sectors	AMDL	QCML
Technology	66.7%	66.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AMDL vs. QCML — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMDL

AMDL Risk / Return Rank: 96
AMDL Sharpe Ratio Rank: 99
AMDL Sortino Ratio Rank: 93
AMDL Omega Ratio Rank: 92
AMDL Calmar Ratio Rank: 99
AMDL Martin Ratio Rank: 97

QCML

QCML Risk / Return Rank: 37
QCML Sharpe Ratio Rank: 32
QCML Sortino Ratio Rank: 40
QCML Omega Ratio Rank: 46
QCML Calmar Ratio Rank: 39
QCML Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMDL vs. QCML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMD Daily ETF (AMDL) and GraniteShares 2x Long QCOM Daily ETF (QCML). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMDL	QCML	Difference
Sharpe ratio Return per unit of total volatility	8.96	1.20	+7.76
Sortino ratio Return per unit of downside risk	4.75	2.11	+2.65
Omega ratio Gain probability vs. loss probability	1.63	1.30	+0.33
Calmar ratio Return relative to maximum drawdown	21.99	1.97	+20.02
Martin ratio Return relative to average drawdown	43.27	4.14	+39.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDL vs. QCML - Sharpe Ratio Comparison

The current AMDL Sharpe Ratio is 8.96, which is higher than the QCML Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of AMDL and QCML, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMDL	QCML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.96	1.20	+7.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.31	+0.20

Drawdowns

AMDL vs. QCML - Drawdown Comparison

The maximum AMDL drawdown since its inception was -88.63%, which is greater than QCML's maximum drawdown of -59.13%. Use the drawdown chart below to compare losses from any high point for AMDL and QCML.

Drawdown Indicators

	AMDL	QCML	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-59.13%	-29.50%
Max Drawdown (1Y) Largest decline over 1 year	-56.13%	-58.72%	+2.59%
Current Drawdown Current decline from peak	0.00%	-9.10%	+9.10%
Average Drawdown Average peak-to-trough decline	-48.67%	-29.12%	-19.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.53%	27.93%	+0.60%

Volatility

AMDL vs. QCML - Volatility Comparison

The current volatility for GraniteShares 2x Long AMD Daily ETF (AMDL) is 48.25%, while GraniteShares 2x Long QCOM Daily ETF (QCML) has a volatility of 58.79%. This indicates that AMDL experiences smaller price fluctuations and is considered to be less risky than QCML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDL	QCML	Difference
Volatility (1M) Calculated over the trailing 1-month period	48.25%	58.79%	-10.54%
Volatility (6M) Calculated over the trailing 6-month period	93.85%	77.98%	+15.87%
Volatility (1Y) Calculated over the trailing 1-year period	129.36%	92.80%	+36.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.58%	95.44%	+21.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.58%	95.44%	+21.14%

AMDL vs. QCML - Expense Ratio Comparison

AMDL has a 1.15% expense ratio, which is lower than QCML's 1.50% expense ratio.

Dividends

AMDL vs. QCML - Dividend Comparison

Neither AMDL nor QCML has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AMDL and QCML in my portfolio?

AMDL and QCML have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDL or QCML?

QCML has higher volatility (58.79%) compared to AMDL (48.25%). In terms of maximum drawdown, AMDL dropped -88.63% vs QCML's -59.13%.

Which ETF is better, AMDL or QCML?

On 1-year performance, AMDL leads with 1145.71% vs 111.12% for QCML. On fees, AMDL is cheaper at 1.15% per year. On volatility, AMDL has been the lower-risk option at 48.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDL or QCML?

Over the 1-year period, AMDL has performed better with a 1145.71% return vs 111.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDL or QCML?

AMDL is cheaper with a 1.15% expense ratio, compared with 1.50% for QCML.

Which ETF pays a higher dividend yield, AMDL or QCML?

AMDL and QCML have nearly identical dividend yields, around 0.00%.

What is the main difference between AMDL and QCML?

Their fees differ too: 1.15% for AMDL and 1.50% for QCML.

Which has better risk-adjusted returns?

AMDL currently has the higher Sharpe Ratio (8.96 vs 1.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.